Stock Market & Financial Investment News

Congressional committees to examine spike in RIN prices, DJ reportsSeparate committees in the House and Senate have asked for data and plan to investigate a price spike in biofuels credits known as Renewable Identification Numbers, or RINs, and the impact of the run-up on the cost of gasoline, reported Dow Jones. Reference Link

HollyFrontier jumps after report of Tesoro takeover interestShares of oil refiner HollyFrontier (HFC) are jumping in early trading after Reuters reported that Tesoro (TSO) made a takeover bid for its smaller peer earlier this year and may still be interested in a potential deal. The companies held talks in the first quarter, but negotiations broke down after HollyFrontier's board rejected Tesoro's terms, including the price it proposed, according to the report, which added that Tesoro is still interested in a deal and the talks may be restarted. HollyFrontier gained about 6.5% to $49 per share in early trading, while Tesoro shares are down 1% to $96.76.